I always prefered to use Bitcoins as a payment and currency and somehow I beleive that is its main purpose. Alternative currency and payment method confronted to conservative fiat currencies.
To use it as an investment was my second choice but I guess this depends on individual preferences and goals.
But I beleive Bitcoin was made with concrete and active purpose and that is payment.
Topic: Time to stop using Bitcoin as a form of investment and start using it as payment - page 3. (Read 749 times)
July 04, 2018, 02:59:23 PM
July 04, 2018, 02:44:33 PM
Over the years so many people sees bitcoin as a get rich quick scheme and at that they rush into bitcoin with the hope that they becomes rich over night forgetting the primary purpose of the invention of bitcoin which is the digital currency and as a method of payments for goods and services.
July 04, 2018, 02:34:01 PM
That is a better way of using Bitcoin for all of us, and it would be good if most of the users listened, but only few actually will. Everyone thinks like "Why would I use it as a currency when I can get rich with it/ earn a lot of money?" The people who are manipulating the market are the big players and they don't care if the smaller fish is happy with the price, they want only money.
July 04, 2018, 02:31:26 PM
So, what you are expecting from your words? Bitcoin pumps? More buyers of Bitcoin? Well, the fact is, you can't.
Anyone can use Bitcoin for everything, you couldn't have to stop everyone to think if Bitcoin is a payment method.
Anyone can use Bitcoin for everything, you couldn't have to stop everyone to think if Bitcoin is a payment method.
July 04, 2018, 02:25:24 PM
I agree with you, but you need to use bitcoin for payment in a reasonable amount, so that the balance remains the same for investment. The world will still come to this, and we must push it.
June 30, 2018, 12:23:45 PM
Listen to me.
Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
Your right. But we cant force others to think the same way that you do. People by nature would seek ways to profit and many would always think of bitcoin as an investment because that is the only way they understood it to be and because right now there are still many boarders that needs to be broken by any cryptocurrency theres: ignorance, acceptance in big an small industries or countries, proper knowledge and proper way to use bitcoin and so many other more to mention. Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
June 30, 2018, 12:14:48 PM
Why stop at investing when we can do both? I would want to use bitcoin as a form of payment. Its just that very few merchants accept cryptocurrency. At least, for now. Just have to wait a little longer.
June 30, 2018, 12:04:46 PM
Yes, I agree with you that it is necessary that people use bitcoin less as a means of accumulating value and more as a means of payment. But now nobody will hear your calls. Everything will be the same as before. Bitcoin will again grow in price and because of bad news and at the same time the manifestation of volatility will necessarily panic, after which bitcoin will drop to very low price values. This will be repeated many times until people are convinced on their own experience that if you keep bitcoin for a long time, it leads to losses. Only then will they stop using bitcoin more as a means of accumulating value. Until they fill themselves with cones on their heads, nothing will happen until then. So far, most of your calls will not be heard. Believe me, there is simply no other way, except for the usual long way through a multiple fall in price.
June 30, 2018, 10:55:05 AM
i dont think its the right time to use bitcoin as payment since it is still volatile. needs to be stable enough to be a viable form of payment,
June 30, 2018, 09:32:50 AM
We can not prevent people from making this form of payment only, especially as its price rises and falls. So we can not do it here because many investors are losing and of course paying for it. So it happens that the bitcoins will pump and dump. And if it does not happen, the price may go higher or even fall.
June 30, 2018, 08:46:12 AM
When I was in college I started using bitcoin as a form investment but now that I am working and knowing a lot of people is using mobile wallet especially in our neighborhood. I started using it also as a payment specifically when the seller also have the same mobile wallet that I use. I could easily send btc to them in just a click.
June 30, 2018, 07:53:19 AM
It's good idea but where to spend bitcoin?
For what?
In my country I don't know any store owner who accept bitcoin.
I can only buy some staff online, from abroad.
So, until situation improve, I will continue to use bitcoin as investment only.
For what?
In my country I don't know any store owner who accept bitcoin.
I can only buy some staff online, from abroad.
So, until situation improve, I will continue to use bitcoin as investment only.
June 30, 2018, 07:49:57 AM
Exactly, the core concept of Bitcoin is all about using it as a payment system and it doesn't make any sense in the long term if we are using it merely for the speculation purpose. Remember the 10,000 BTC pizza, Bitcoin is valuable today just because the early adopters used it as a payment system and now it is our responsibility to do the same.
June 30, 2018, 05:21:58 AM
Bitcoin is a good investment some people earn from it but bitcoin cannot use as a payment because of its volatility.
June 28, 2018, 08:24:27 PM
It is not possible to use it for payment as bitcoin has volatile price where the price of the commodities are fixed. I think there will be huge chaos if we step on to use it as payment.
June 27, 2018, 05:53:15 AM
This question is needed to be shown on the global world government events, because in my opinion most of the world government are not considering bitcoin as legit payment method or alternative one.
June 26, 2018, 06:20:04 PM
a very good point and i completely agree with it.
but it doesn't have to be only one. you can do both. you can use bitcoin as a currency but also have it as an investment. for example you buy bitcoin today at $1 to be able to spend it as a currency when it is worth $2 which satisfies both investment and currency aspect of it.
the price rise, the volatility that comes with it and the fact that people will use it as an investment is inevitable.
I agree with you, but let's look at it this way, just now the value of bitcoin is determined by the number of demands and supply. Meaning if the supply is more than the demand, the value price drops. Bitcoin as a currency will not be affected by this particular factor. As a currency, a fix price value will be used if you using fiat to exchange for bitcoin. The decentralization idea behind the creation of bitcoin was to make the transaction of funds unlimited and not controlled by an individual or groups or authorities. but it doesn't have to be only one. you can do both. you can use bitcoin as a currency but also have it as an investment. for example you buy bitcoin today at $1 to be able to spend it as a currency when it is worth $2 which satisfies both investment and currency aspect of it.
the price rise, the volatility that comes with it and the fact that people will use it as an investment is inevitable.
June 26, 2018, 05:54:01 PM
It is a very good point to be demonstrated but the thing is there will be no problem at all if you use the bitcoin as currency as well as investment. You just need to use the volatility with the flow.
June 26, 2018, 03:46:02 PM
most of people use bitcoin as an investment because the price of bitcoin is volatility but to use bitcoin as a payment method in daily transaction is not as simple as you think because before we do that we need regulation from the government first but we all know just a few countries that totally accept bitcoin and so many countries that not support bitcoin. I personally can't use bitcoin as payment because the government of my country prohibit to use bitcoin as payment so bitcoin users in my country can only use bitcoin as an investment.
June 26, 2018, 03:43:38 PM
I agree with you. Bitcoin should be used as a money not investment because satoshi actually invent it for the purpose of alternative digital version of actual money. But it is still not old enough to be used as money. You see the value is volatile and some other issues that are restraining it to be used as money.
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